Silver Futures Creep Higher Ahead of Fed Chair Warsh’s Jackson Hole Address

Silver (SI=F) September futures opened at $69.35 per ounce on Friday, August 28, 2026, edging down 0.1% from Thursday’s close. Prices rebounded during morning trading, climbing to $71.13 by 7:57 a.m. ET.

Silver prices have traded sideways this week as investors assessed inflation data that largely met expectations, while positioning themselves ahead of Fed Chair Kevin Warsh’s keynote speech at the Federal Reserve’s annual Jackson Hole symposium.

Warsh’s remarks arrive at a critical juncture, with market participants closely watching for signals regarding the Fed’s next policy steps. The Federal Open Market Committee remains internally divided over whether to raise interest rates further or maintain current levels.

So far, Warsh has distinguished himself as an unconventional Fed leader, amplifying market anticipation around today’s address and any hints about future rate direction.

Current Silver Prices

The opening price of silver futures on Friday, August 28, 2026, was 0.1% lower than Thursday’s closing level. Below is a comparison of today’s opening price against recent periods:

• One week ago: +1.9%

• One month ago: +21.1%

• One year ago: +79.2%

For additional perspective, silver’s year-over-year increase stood at 173.3% on May 14.

Track silver prices around the clock on Yahoo Finance.

Explore the best-performing silver companies using the Yahoo Finance Screener, which offers customizable filters across more than 150 criteria.

Tax Considerations When Investing in Silver

Yes, profits from silver investments are subject to taxation. As a capital asset, gains realized from selling silver are reported on Schedule D of your federal tax return.

A common misconception among investors is that holding physical silver for over a year entitles them to long-term capital gains rates equivalent to those applied to equities—0%, 15%, or 20%. This assumption is incorrect.

The 28% Collectibles Tax Rule

The IRS categorizes physical precious metals such as silver bars, rounds, and coins as collectibles, significantly altering their tax treatment.

Short-Term Gains

Profits from silver held for one year or less are taxed as ordinary income, potentially reaching up to 37% depending on your tax bracket.

Long-Term Gains

For holdings exceeding one year, gains remain taxed at ordinary income rates but are capped at a maximum of 28%.

Here’s how these rules apply across income brackets:

• Investors in the 10%, 12%, 22%, or 24% tax brackets pay taxes on silver gains at their respective marginal rates.

• Those in the 32%, 35%, or 37% brackets face a maximum effective rate of 28%.

This structure means middle-income investors who typically benefit from a 15% long-term capital gains rate on stocks may pay higher taxes—22% or 24%—on silver appreciation, depending on AGI levels. Even high earners receive a relative discount compared to ordinary income rates, but the cap still exceeds the 20% ceiling for stock gains.

These discrepancies compound rapidly when dealing with five- or six-figure profits.

Further reading: Strategies to minimize taxes when investing in silver

Silver Price Chart

Whether tracking silver performance over weeks or years, the chart below illustrates the metal’s price movements throughout the current year.

Additional silver market analysis from Yahoo Finance:

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